The International Monetary Fund announced on 7 July that Silvana Tenreyro will become its next Economic Counsellor and Director of the Research Department, a position equivalent to chief economist. She replaces Pierre-Olivier Gourinchas, who is returning to academia after serving since 2022, and will assume her duties on 10 August. The appointment places an Argentine-born economist who also holds British and Italian citizenship at the helm of the Fund’s analytical work during a period of what the institution describes as profound transformation and elevated uncertainty in the global economy.

IMF Managing Director Kristalina Georgieva, in a statement and social media posts, described Tenreyro as a “globally respected economist” whose blend of academic achievement and policy-making experience would keep the Fund’s surveillance and policy advice “at the cutting edge”. Georgieva highlighted Tenreyro’s collaborative leadership style, her openness to diverse perspectives, and her ability to communicate complex economic issues with clarity. Viewed from Washington, the selection of a candidate with a career shaped by institutions in Europe, North America, and Africa signals a broadening of the Fund’s senior leadership profile beyond the traditional transatlantic axis.

Tenreyro, 52, is currently the James E. Meade Professor of Economics at the London School of Economics, where she has taught since 2004. She holds a PhD and a master’s degree from Harvard University and a first degree from the National University of Tucumán in Argentina. Her policy experience includes serving as an external member of the Bank of England’s Monetary Policy Committee from 2017 to 2023, where, according to analysts in London, she was known for advocating a more cautious path of interest rate rises during the post-pandemic inflation surge. She has also worked as an economist at the Federal Reserve Bank of Boston and served on the Monetary Policy Committee of the Bank of Mauritius, and she currently sits on the IMF Managing Director’s External Advisory Group. Her research on monetary economics and international trade has been recognised with awards including the Yrjö Jahnsson Award and the Bernhard Harms Prize.

The appointment comes as the global economy confronts renewed inflationary pressures linked to the Middle East conflict, accelerating investment in artificial intelligence, and rising sovereign debt levels, according to the Fund’s own assessments. Tenreyro’s recent advisory role at AI company Anthropic underscores the IMF’s growing focus on the economic implications of technological disruption. She becomes only the second woman to serve as IMF chief economist, after Gita Gopinath, who held the post from 2019 to 2022. The transition is set for 10 August, when Tenreyro will take charge of the department responsible for the flagship World Economic Outlook report and the Fund’s multilateral surveillance.